Cross posted from The Stars Hollow Gazette
Journalist David Cay Johnston, Sen. Sherrod Brown (D-OH) and MSNBC host Ed Schultz all agree that now is the time, and in some cases past time, to invest in the collapsing and crumbling bridges, road, rails and public buildings.
Pay to Fix America’s Crumbling Infrastructure Now, or Pay More Later
by David Cay Johnston
The I-5 disaster in Seattle reflects the dire state of our bridges and highways. But it may never be cheaper to replace these aging arteries than it is now.
“We cannot hope to have an A+ economy with a C-level infrastructure,” said James Chae, president of the (American Society of Civil) engineering society’s Seattle section. [..]
State and local governments spent $156 billion on highways in 2010, roughly a penny out of each dollar of America’s gross domestic product.
Right now, governments can borrow at the lowest interest rates in 700 years. Roughly 25 million people are involuntarily forced into part-time work, are looking for work, or have given up because they cannot find a job.
We must either update our infrastructure or face a future that is both more dangerous and poorer, as more bridges collapse, pipelines leak and explode, and the movement of goods and people becomes less efficient. We could increase our spending and reap big dividends in jobs and the taxes they generate, improved safety, and a more efficient economy.
Why put off until tomorrow what is cheaper to do today?
MSNBC’s Ed Schultz, host of “The Ed Show,” discussed the problem of cutting spending on rebuilding the nation’s infrastructure with Sen. Brown.